1509 Santa Fe Ave Grants, NM 87020
Call to check price and availability
High-Yield Walgreens, 15-Year Lease
Property size:
16,419 SFProperty Features for 1509 Santa Fe Ave
General Information
- Property type
- Restaurants
- Square Feet
- 16,419 SF
- Lot Size
- 185,130 SF
Building Details
- Year Built
- 2014
- Buildings
- 1
- Stories
- 1
Listing Agency: Northmarq - Chicago Listing Agent: Christian Tremblay
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a fee-simple interest in a ±16,419 square foot Walgreens located in Grants, New Mexico. The property sits on a substantial 4.25-acre lot at the high-traffic intersection of East Santa Fe Avenue and Interstate 40/Route 66, offering unparalleled visibility and accessibility. Built in 2014, this single-story building is a newer Walgreens prototype, complete with a convenient drive-thru pharmacy. The property benefits from a recently executed 15-year sale-leaseback agreement (commencing February 22, 2024, and expiring February 28, 2039), demonstrating Walgreens' long-term commitment to this strong-performing location. The absolute NNN lease structure ensures minimal landlord responsibilities, with rent bumps of 5% every 5 years. This location enjoys a significant competitive advantage, being the only Walgreens within a 75-mile radius. Nearby national retailers include Walmart, Tractor Supply, Dollar Tree, and several fast-food chains, further solidifying the area's robust retail environment. The asking price is $5,073,921, representing a compelling 6.25% cap rate. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset with a long-term, secure lease. The property's size, location, and tenant strength make it an ideal addition to any diversified investment portfolio. This is a turnkey investment with significant upside potential.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Drug stores
Location Insight
- Map
- Local Demand
- City
- Grants
- County
- Cibola
- State
- New Mexico
- Longitude
- -107.8282637
- Latitude
- 35.1293996
Nearby Similar for Sale
FAQs
What type of property is this?
Restaurant - High-Yield Walgreens, 15-Year Lease
Where is this restaurant located?
The property is located at 1509 Santa Fe Ave Grants, NM.
What is the asking price?
The asking price for this property is $5,073,921.
What are key features of this property?
This property features: $5,073,921 asking price for a Walgreens-occupied retail property.; 16,419 square foot building on a 4.25-acre lot in Grants, NM.; Absolute NNN lease with Walgreens, 14 years remaining (15-year term starting February 22, 2024).
